Closing run around whats going on !!!?

Question

Ok we were suppose to close on the 30 the date was moved because we were supposed to get a closing check and the company didnt mail it so the check gets there and they say well we have to post pone a few more days because we need some paper work they didnt tell us all of that!!!. Then They get the paper work everyone is suppose to be on track then they say ok ok we finally got closing on MONDAY for sure my dad say do we need any THING ELSE !!! . They so no no everythings on track then they call today and say they need the landlords number and a few other items why are we getting the runa away why are we going through all this bull what does this sound like.

Answer 1

It sounds like you are getting somewhat of a run around. And the "closing check" incident, i'm really not buying. Either your file is set for closing or it's not. There is no in-between, and once your closing is set, generally there's no coming back asking for more documentation unless it's a prior to funding condition that needs to be taken care of. And prior to funding conditions do not actually hold up you signing your closing docs. Ask your broker a straight answer. Ask them if the file is fully approved by underwriting. I'm assuming the answer will be no since you can't close yet.

This doesn't mean you wont be able to, it just means everything is not completely taken care of by your broker yet. This may not be all your brokers fault either, sometimes underwriters go back and forth and ask for more than what they initially requested, but your broker definitely needs to be honest with you in regards to if the file set for closing or if it's not. That's either a yes or no answer, period.

But, at this point try to relax as much as you can, provide the documentation to your broker and go somewhere to relax and let your broker handle the stress.

On a side note:
As a Realtor, this type of situation really irritates me. For any broker that's reading this, this should be a lesson. Stop telling your clients something will be done at a certain date and time when you're not 100% sure, it does nothing but cause confusion for your client, anger them and give you a bad reputation. Just be honest, even though your client may not like the answer, it's much better than having to answer to why your promises were not fulfilled.

Underpromise, overdeliver....... Works out alot better.

Answer 2

Your loan officer might be inexperienced. He might have had to switch investors. Any number of things could have caused this to come up.

It's a tough job, most of the time people have no idea what it really takes to get loans done.

Sounds like he didn't get your file in front of an underwriter until it was too late. The underwriter is now asking for things that could have been done sooner, had the file been reviewed earlier.

Answer 3

In real estate transactions, deals often times get delayed because of a lack of communication. If you have been making things as clear to the title company, Realtor and mortgage company representatives as you have to us, I can understand the delay.